22 Jul '11, 3pm

Warren Buffet’s crazy-like-a-fox plan to revive America’s auto industry - @mims reports

Warren Buffett, legendary investor and one of the world's richest people, is about to leverage his part-ownership of China's largest battery manufacturer to deliver a shot in the arm to America's ailing auto industry. Here, apparently, is how he plans to do it: BYD autos, one of his few overseas investments, into which he plunged $230 million in 2008 , may finally bring Chinese-made electric vehicles to the U.S. But batteries are very heavy and therefore expensive to ship thousands of miles! Also, Buffett is a known patriot, so if his Chinese holding makes all that stuff overseas and just ships it over here, that kind of contributes to the ongoing decline of the American empire . These reasons -- plus a bunch of others that can probably only be expressed in a spreadsheet -- convinced Buffett to build BYD's latest battery plant in a massive new "energy park" in what used to...

Full article: http://www.grist.org/list/2011-07-22-warren-buffets-crazy...

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